No Bidders For Wiederhorns Mansion House Goes Back To The Bank

Dated: April 5 2014

Views: 546

The foreclosure auction Wednesday for the West Hills mansion formerly owned by Andy Wiederhorn didn't attract any bidders willing to put up the minimum $3.36 million bid, meaning the house will remain the property of lender CitiMortgage.

It was the largest foreclosure auction in Multnomah County history.

The house is worth $6.8 million,  according to the tax assessor. Wiederhorn  tried to sell the property for $5.7 million in 2011. 

In a phone interview before the auction, Wiederhorn said he didn't get any bids on the property for "6, 5, 4 or $3 million" when it was on the market.
Wiederhorn said he reached a deal with CitiMortage last year to return the property to the bank. Read more here...
RC
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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